After heavy pressure on local assets in 2018, Investec is optimistic an improving local and global picture bodes well for the all share
SA's largest asset-manager, Investec, has an upbeat assessment of the JSE's prospects for the next five years, expecting returns on the local bourse to match those of foreign equities during the period.
Speaking at an Investec presentation in Sandton, Gardiner said SA's domestic problems, such as Eskom's debt burden, were now seemingly being taken seriously by the government. This was positive for SA, given that many of its emerging market peers had similar, if not worse, continuing domestic political battles, he said.
"US President Donald Trump needs a deal soon, he has an election in 18 months' time, and needs the economy growing and the stock market up," Gardiner said. The JSE had lagged its global peers in 2018, falling 11.37% during the course of the year, compared to the Dow's fall of 2.45%. The MSCI World Equities Index — which tracks 47 markets — fell 10.44%.
Investec is targeting a return of 15% on local equities over the period, in line with foreign equities, Investec portfolio manager Clyde Rossouw said.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Multichoice shares start at R95 on JSEMultichoice officially listed on the JSE on Wednesday.
Read more »
MultiChoice jumps 15 percent on JSE debutTim Jacobs, CFO of MultiChoice, told Reuters in an interview that the company was pleased with the level at which its stock opened.
Read more »
Multichoice shares start at R95 on JSEMultichoice officially listed on the JSE on Wednesday.
Read more »
JSE remains flat as Naspers offsets other gainsThe JSE was little changed on Wednesday with the main event the long-awaited listing of MultiChoice, Naspers's subscription TV service.
Read more »
MultiChoice begins trading on JSE at R95.50Africa’s biggest pay-TV group MultiChoice debuted on the Johannesburg Stock Exchange on Wednesday with shares opening at R95.50, giving the company a market capitalisation of R42 billion ($3.03 billion).
Read more »
JSE remains flat as Naspers offsets other gainsMiners are benefiting from some dollar weakness overnight, but Naspers has fallen 3% after unbundling its pay-TV unit
Read more »
MultiChoice soars in debut trading on the JSEAfter its spin-off from Naspers, the pay-TV company is looking to expand across Africa
Read more »
MARKET WRAP: JSE pushes above 56,000 points, led up by platinumsPressure on the oil price has provided some support for retailers and banks, with platinum miners leading the gains, amid concern that the metal is entering bubble territory
Read more »
MultiChoice’s debut to shake up JSE top 40Naspers’s pay-TV business, which starts trading as an independently listed company on Wednesday, is expected to have a market cap of up to R90bn
Read more »
MARKET WRAP: JSE remains flat as miners gain and banks fallNaspers fell 4% after unbundling MultiChoice, which largely offset its parents losses, but a softer dollar overnight supported local miners
Read more »